Boston Research & Management Inc. lowered its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 12.6% in the 4th quarter, HoldingsChannel reports. The firm owned 5,530 shares of the business services provider’s stock after selling 799 shares during the period. Boston Research & Management Inc.’s holdings in Cintas were worth $861,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new position in Cintas during the third quarter valued at approximately $11,296,000. Point72 Asset Management L.P. bought a new position in Cintas during the third quarter valued at approximately $61,754,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Cintas by 6.9% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 24,845 shares of the business services provider’s stock valued at $3,585,000 after buying an additional 1,596 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Cintas by 23.6% during the third quarter. Janney Montgomery Scott LLC now owns 4,812 shares of the business services provider’s stock valued at $694,000 after buying an additional 918 shares during the last quarter. Finally, State of Wisconsin Investment Board boosted its stake in Cintas by 3.6% during the third quarter. State of Wisconsin Investment Board now owns 82,245 shares of the business services provider’s stock valued at $11,866,000 after buying an additional 2,888 shares during the last quarter. Hedge funds and other institutional investors own 65.91% of the company’s stock.
In related news, insider James Phillip Holloman sold 12,386 shares of the firm’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $160.92, for a total transaction of $1,993,155.12. Following the completion of the sale, the insider now directly owns 141,328 shares of the company’s stock, valued at approximately $22,742,501.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 18.90% of the stock is currently owned by company insiders.
Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Thursday, December 21st. The business services provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.04. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.59 billion. Cintas had a return on equity of 23.23% and a net margin of 9.23%. The company’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period last year, the company earned $1.15 EPS. sell-side analysts predict that Cintas Co. will post 5.45 earnings per share for the current fiscal year.
A number of equities analysts recently commented on the company. KeyCorp reissued an “overweight” rating and set a $174.00 price target (up from $148.00) on shares of Cintas in a research note on Tuesday, December 19th. Morgan Stanley raised their price objective on Cintas from $130.00 to $151.00 and gave the company an “underweight” rating in a research note on Wednesday, January 31st. Oppenheimer reaffirmed a “hold” rating on shares of Cintas in a research note on Friday, December 22nd. Zacks Investment Research lowered Cintas from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, William Blair reaffirmed a “buy” rating on shares of Cintas in a research note on Tuesday, December 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $155.91.
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Cintas Corporation is a provider of corporate identity uniforms through rental and sales programs, as well as a provider of related business services, including entrance mats, restroom cleaning services and supplies, carpet and tile cleaning services, first aid and safety services and fire protection products and services.
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